Email Contact Phone Company Visit Website

London, United Kingdom Office

4th Floor 33 Sun Street

Boston, USA Office Head Office

14 Oak Park Drive

New York Office

52 Vanderbilt Avenue
New York


0870 351 7212


Leanne Brown
[email protected]
Back to all Progress Software announcements


Progress® technologies provide different pieces required for achieving a (SOA) service-oriented architecture

Finexpo, Canary Wharf, 27 January 2005. Progress Software (NASDAQ: PRGS) today outlined how technologies in its ObjectStore® and Sonic Software business units address both the data services back-end as well as the application integration front-end requirements of companies adopting a service-oriented architecture (SOA) strategy.

Chris Keene, vice president of data caching products at ObjectStore commented on how most attention on SOA has centred so far around application integration. He said that SOA also needs a well-thought out data architecture as a foundation to ensure consistency and resilience of data across data services.

ObjectStore provides the real time data services layer necessary to deliver virtual data integration at the backend to SOA, just as an enterprise service bus such as Sonic ESB® – the market leader from Progress subsidiary Sonic Software – enables application integration at the front-end.

Progress Software is the only software company with proven technologies able to deliver both the front end and back end elements required for SOA. Together with the Progress OpenEdge™10 platform for the rapid development of component-based distributed applications which can be quickly and easily exposed as Web services, Progress Software provides the most complete and compelling capabilities required for SOA .

Progress OpenEdge division – tools for developing, deploying, managing and integrating component-based distributed applications – used by more than 2000 application partners to quickly produce service-enabled applications which offer user interface and database independence, low cost of ownership and protection from technology obsolescence.

Sonic Software – inventors of the enterprise service bus and provider of far and away the market leading ESB. An enterprise service bus enables companies to integrate applications across the extended enterprise using a standards-based, SOA. Highly distributed, yet centrally manageable, the ESB overcomes limitations of monolithic integration brokers and application servers to create an event-driven enterprise SOA which can adapt to ever-changing business requirements. The ESB approach simplifies the integration of heterogeneous applications and enables more complex data structures, such as required for reference data and risk management. However, the more complex the data structures the more that organisations need to address the difficulty of serving up timely, high quality, consistent data to the enterprise.
This is where ObjectStore comes into play.

ObjectStore - A new type of data management infrastructure called real time data services, or RTDS, is emerging to address the needs of the real time enterprise. ObjectStore is leading the market in its ability to deliver two of the important technical elements of the real time enterprise: event-driven architecture and real time data services.

Event-driven architecture (EDA) enables the automation and complex event processing that is required for such real-time applications as customer self service, automated stock trading, and efficient supply chains. Data services enables a similar shift toward the simplification of enterprise architecture through the re-use of corporate databases and improved performance at the data access level.

Benefits for financial services

ObjectStore enables effective use of EDA and data services in financial services by providing a new type of data management technology that facilitates both the building of data services and the processing of streaming event data that arrives asynchronously – and at rates that often are 1,000 times greater than are typically handled by traditional systems.

Real time data services are critical in financial services, where improvements in performance can yield millions of dollars. The sudden rise in algorithmic trading requires event-driven architecture, where market data event feeds can be analysed to discover trading opportunities - in real time. And since trading can now happen more quickly, the down-stream settlement and accounting functions in the back office must become real-time as well.

Data services makes a financial services architecture easier to build and maintain. Instead of every application from front to back office developing a connection to a corporate database individually, they can program to the data service layer so that access to reference data, for example, can be unified and simplified.

With financial markets gravitating to incorporate greater amounts of real-time trading - including algorithmic trading - the word ‘timely’
increasingly means the immediate, zero latency availability of all the relevant information needed to consummate a trade. And, as importantly, the ability to avoid unnecessary unwinding of transactions later in the process is crucial to profitability. Industry estimates suggest that 30% of all financial transaction fail to execute due to poor reference data (which represents 40% of the actual trade record). Thus, the business reality is that real-time execution of a trade is of little value if the absence of reference data - or its inaccuracy - impact the ultimate trade execution and settlement process.

In many financial institutions, reference data is dispersed among a variety of different systems. Trade execution processes need ready, timely, accurate access to that data, yet the traditional data access and transformation services needed to make such information available are often too cumbersome and slow to meet real-time requirements. With ObjectStore (following the acquisition of Persistence) financial institutions now have the ability to apply principles of real-time data services to reference data, leveraging ObjectStore’s rich object-relational mapping and data caching to deliver the crucial reference data to the front office trading applications through access to a unifying data services layer.

Therefore, financial institutions can now leveragea range of real-time solutions from Progress that encompasses real-time data services (via ObjectStore) and real-time application integration (via Sonic ESB).